Feds give Vancouver developers nearly $500M in loans to build 1,100 rental homes

Canada's Federal Housing Minister Sean Fraser announced Wednesday that the federal government will provide nearly $500 million in low-cost loans to developers to build up to 1,100 rental units across nine sites in Vancouver. Fraser only shared the location of one of the sites, a six-storey building under construction on the University of B.C. campus, and suggested that the individual project proponents will be sharing the details of the other sites in the weeks ahead. These rental units will range in price depending on the income of the person or family interested in moving in, with some being as low as 70% of the median household income. The